Mumbai – According to a corporate spokesperson, the British Bank Barclays has gone for a cut down on 250 jobs in India while 50 to 55 bank personnel have either resigned or have been reassigned in the bank in the previous weeks.

In 2009, about 240 people were temporarily discharged off the work, and this time the job cuts have actually gone through two rounds of layoffs at the bank where the majority of the workers were from the collection department.

Despite of the job cuts, Barclays is still hiring at least 5000 people in India for its businesses in retail, investment and corporate banking and also for its technology centre, according to a statement made by the bank on Thursday. The bank aims to expand its business by focusing on the corporate and investment banking, wealth management areas, while targeting to serve the fast growing mass affluent segment in India.

It was earlier this year, that Barclays expressed its desire to target the larger local corporates and the regional operations of the multinational corporations in India, Russia, UAE and Pakistan, while aiming to streamline the retail operations in these countries.

[Source – Reuters]